To sum this up, there are just too many limits, rules, details, conditions, etc. Point is, I don't feel comfortable limiting choices when it comes to a vehicle. You are limiting yourself to the realtor, which I believe is the same and would not feel comfortable doing. For example, say you have a Capital One ReMax Reality BuyPower (I made this up and it does not exist). You can't do this with a vehicle nor is deodorant $20,000+. If I don't like Old Spice anymore, I can pitch it, go out to the drug store and find a different brand. I imagine because a vehicle pales in comparison as opposed to other products because of the amount of these products, the quality that changes what seems to often and how hard it is to change your loyalty. However, vehicles are one of the few products I'm loyal towards. I'm loyal to Apple, Target, Colgate, Old Spice, Taco Bell, Cleveland Golf and many more brands. I'm extremely loyal to many different consumer products/services. The person ultimately ended up using the discount from the dealer instead of the cash rewards because these discounts are often more than the redemption limits themselves.Īfter all, at the end of the day. I saw where one card holder was offered a special discount from the dealer, but couldn't use the cash rewards. You want to use that along with a special discount? That's too bad! You can't have your cake and eat it too! Don't you know, you can't combine GM BuyPower's cash rewards with other special discounts. So, you racked up enough cash rewards on your BuyPower. If you are wondering what the redemption limits are for each vehicle? You can find them here, remember these limits do change from time to time (which they are subject to): This card holder however, didn't read the 'fine print' int his case. We couldn't imagine not responding to a customer of over 10 years! We will be canceling our card this week and will make sure to tell all of our family and friends how poorly our situation was handled." My husband and I both work for a Fortune 100 company that prides itself on customer service. My husband sent a follow up response to Capital One and never received a response. We contacted Capital One and got a ridiculous response saying that our card isn't the card that's advertised (convenient) on the website showing that there isn't a limit of how many points you can redeem towards a purchase of vehicle. We went last weekend to purchase a GMC truck and were told that we were only able to redeem $1,500 of our $2,700 worth of points. "My husband and I have had a GM card for 10 years. Here's what one upset card holder had to say, I believe most people expect to rack up $15,000 over 10 years and use that towards a vehicle. This might be fine if you buy a new vehicle every 2 years, but after that you are leaving money on the table. The vehicle with the highest redemption limit? The Chevy Camaro Coupe with Z28 for $4,000. For a Chevy Sonic, you can only use $1,000. If you want a Chevy Malibu, you can only use $1,500. So, I can use that $2,680 for any vehicle, right? Wrong, you can't because there are redemption limits. This isn't including "non-category", which would equal $420 or less during the year.So, lets say that over the course of the 4 years I rack up $2,680.Great, that's a nice chunk of change. That would be for the first 5% up to $5,000 alone, which would replace all category spending. Using math I figured I could rack up $1,000 easily over 4 years. I personally don't need a vehicle at this moment, nor am I sure when I will. I envisioned I would spend the first $5,000 for the 5% which would total $250 in a year for cash bonus towards a new vehicle.
Before learning more about this card months ago, I imagined how this Capital One card would be at the top of the credit card pile. There seems to be quite a bit of 'fine print' for the GM BuyPower which ultimately kept me from acquiring this. I did the best I could to educate and understand the details, terms, conditions, program rules, etc. I become leery after days of research and ended up not getting Capital One's GM BuyPower.
I looked deeply into this card last year.
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